BioNTech has entered into two separate settlement agreements with the U.S. Nationwide Institutes of Well being and the College of Pennsylvania over the cost of royalties associated to its COVID-19 vaccine, the corporate stated in filings.
The German firm, which companions with U.S. drugmaker Pfizer for its COVID-19 vaccine, stated on Friday it might pay $791.5 million to the U.S. company to resolve a default notice.
Individually, the corporate pays $467 million to the College of Pennsylvania (Penn), which has agreed to dismiss a lawsuit introduced in opposition to the vaccine maker accusing it of underpaying royalties.
BioNTech stated associate Pfizer will reimburse it for as much as $170 million of the royalties payable to Penn and $364.5 million of the royalties paid to the Nationwide Institutes of Well being (NIH) for 2020-2023 vaccine gross sales.
NIH and Penn didn’t instantly reply to requests for remark.
The U.S. authorities is owed royalty funds below the phrases of the license BioNTech has taken for sure patents owned by the NIH, amongst different entities.
Penn’s lawsuit had stated BioNTech owes the varsity a higher share of its worldwide vaccine gross sales for utilizing “foundational” messenger RNA (mRNA) innovations developed by Penn professors and Nobel Prize winners Katalin Kariko and Drew Weissman.
The corporate additionally amended its license agreements with each NIH and Penn, agreeing to pay a low single-digit proportion of its vaccine web gross sales to each the entities.
Each settlements embrace a framework for a license to make use of NIH and Penn’s patents together merchandise.
Was this text invaluable?
Listed here are extra articles you might take pleasure in.
Taken with Covid 19?
Get computerized alerts for this subject.
